How i$ Everyone Paying for the CRAZY College Price$?

[mad4music]

Posted: 8/12/05 at 12:18am

I really, really, really, want to go to school near the East Coast after high school... I'm really considering Yale at the moment... but also NYU and a few others. But the prices are INSANE!!!! How does anyone afford to go to college anymore???

I'm just a sophomore and have already started my new part time job of scholarship hunting... but, w/out scholarships how would a regular middle class student ever pay for the prices of a place like Yale?

And also... to the college students.... (if I can be so nosy)... where are you attending and how much does it cost? Are you relying on grants and loans? Is your family helping you out a lot? Any scholarships that have helped you? Any advice for an overwhelmed high schooler????

[thetheatrekook]

Posted: 8/12/05 at 12:28am

yes, college tuition is getting a bit out of hand these days. Luckily, I go to Uconn, instate, plus I'm an RA so I only pay around 10,000 a year. Beautiful. I'm also considered...upper middle class...so full tuition wasn't really a problem either. But I know plenty of folks who don't have enough money to be lucky enough to actually afford college tuition outright. Scolarships help, yes, and I would talk to your school guidance counselor about them. Also, look into a possible co-op program with colleges. I'm not sure which colleges do this...but i've heard of them...basically it's going to school for 6 or so months, then working for 6 months...also, bank loans. And since I don't use it I don't know, but FAFSA (financial aid) can help as well.

What state do you live in? Are there any good public universities that have good programs in your field of study?

Don't feel too overwhelmed...going to college while not being able to afford it is difficult, yes, but not impossible. My best friend has put herself through four years of college (with one more to go...damn those 5 year colleges!) having to figure out each semester how she's going to afford it.

[mad4music]

Posted: 8/12/05 at 12:37am

I live in Idaho.... and I AM GETTING OUT!!! so instate schools are kind of out of the question for me... yes they would be WAY cheaper! (I could go to Idaho State and only pay like $10,000) but I really want to move back east... I don't want to live in Idaho anymore...

and all the schools I have been thinking about are insanely expensive... like over $30-40,000 a year. :S

I may have to settle for BYU. Its actually a really awesome school and really cheap too... but I'd rather go farther away than Utah.....

[singingsweetee82]

Posted: 8/12/05 at 12:50am

I totally feel your pain mad4music. My tuition is around 40,000 a year. Basically, financial aid is your friend. The FAFSA is a form that you fill out that determines how much aid you "should" get. Then based on the FAFSA, each individual college decides what they're going to give you. Basically when i filled out the FAFSA it decided that I wasn't eligible for as much aid as i really needed so my school decided to give me need-based aid. Also part of the package is work-study and loans. Financial aid covers about a half of my tuition. My parents took out a loan for the other part. And yes, outside scholarships are nice and will usually replace your work-study and loans. I know it's confusing. My advice: go to the websites for the colleges your interested and read their policy on financial aid. Pretty much all colleges give need-based aid. Otherwise they wouldn't have very many students. Also ask your college/guidance counselor about it. Hope this helps!

[Sporti2005]

Posted: 8/12/05 at 1:19am

well, if you're really interested in Yale, you should know that it GUARANTEES to meet 100% of your demonstrated financial need, so there's a good thing for ya there.

in terms of paying for college, it's wicked hard. right now, i'm going to be going to a school that i'm relatively overqualified for, but they offered me a lot of money. there is one other reason i'm going there, but that's beside the point.

and yeah, loans and grants are basically the only way to do it.

and here's my advice - START SAVING NOW!! it'll really help.

[secret-soul]

Posted: 8/12/05 at 9:46am

At FCLC the total including Room and Board is $39,737. With my grants and Stafford I have about $27,000 covered. My parents are helping with the rest by getting the plus loan. It's hard...very hard. But we're working on it.

[erinrebecca]

Posted: 8/12/05 at 10:17am

The reality is that for the expensive private colleges, most students will graduate owing large sums. My parents started saving for college for me and my siblings when we were born. We've all had part-time and summer jobs since we were old enough to work. Due to our financial situation, we don't qualify for need-based aid. I'm fortunate that I got some good merit scholarship money. I go to NYU and Tisch is the most expensive NYU college. For tuition, housing, books, living expenses, and travel costs, it's close to $50,000 a year.

[mabel]

Posted: 8/12/05 at 1:42pm

OK, here are my 2 (errr...99) cents on the matter of paying for college.

I'm going to be a senior this fall at a private university that I chose to go to because of the great financial aid they offered me. It was certainly not my first choice, but when it came down to it, fincanically, it was either here, or a state school that 1/2 of my graduating class from high school would be attending, so I decided I'd rather branch out and leave.

I got a sizable Presidential Scholarship, a grant, a Stafford Loan, and my freshman year I had some local 1 year scholarships from doing well in high school.

Here's one thing that ended up biting me in the ass this year though...I worked last summer (never worked in high school, other than babysitting, etc) so as far as need-based aid went, we were deemed more worthy, because I hadn't worked and didn't have savings to contribute. HOWEVER, I lost my grant for my senior year, because I worked, which is total BS, as far as I'm concerned. I used all the money I earned last year to pay for my books, my food (I'm not on a meal plan, because my dorm has a kitchen), transportation in the city, as well as back home for vacations, etc. It's not as if I pissed away all the money I'd earned on liquor and movies (though I did some of that too ). I don't know if this is something that's unique to my school, but I had friends in high school that worked straight through HS and they didn't get any (or very little) need based aid, because they expect you to put every dollar you'd earned into your tuition.

Oh yeah, I also got $2000 in work study, which is pretty useless, because they pay you $5/hr and there aren't enough free hours to work to ever come close to earning that $2000! I'm sorry, but w/ 18 credits, and ushering at the theatre (the job I picked) 3 or so nights a week (depending on if/when they even had events to work) that just isn't going to add up! I know there were other jobs that might have been more regular work-wise, but w/ that course load (including several Honors classes) I'm not going to be working 20 hours a week too...more power to the people who can juggle that w/ going to school full time. I tip my hat to you.

Moral of the story is...look into what schools offer the most financial aid. Some have a tendency to offer more than others (it breaks it down in those big-ass college review books). I didn't even apply to NYU, because they tend to offer so little, and I would have been on the cusp getting in anyway. Seriously, when did they start having 1500 as an SAT average?!? Or something like that. Unless you want to be saddled w/ $100,000 in student loans, you might have to go to a school that you're a little too "good for," for lack of a better term. Apply to lots and lots of schools, so you have a variety of options. Be sure you know the ins and outs of any financial aid you are awarded (GPA you must maintain for scholarships; if a job of any kind will wipe out a grant, etc) Be sure to fill out the FAFSA.

I don't know. I guess that's about it. It's a confusing, complicated, frustrating process. So brace yourself!!

Updated On: 8/12/05 at 01:42 PM

[Yorkie1276]

Posted: 8/12/05 at 2:10pm

Although I was accepted to NYU and Marymount Manhattan, I decided to go to college in-state and then go to either NYU or Columbia for my Master's degree. Tuition + Room and Board come to a little over $15,000. I got several sizezble scholarships, and my parents help out, too.

The best advice I can give is go to an in-state, public university as an undergrad, and save the fancy school for your Master's.

[JayKid]

Posted: 8/12/05 at 4:28pm

Yea, outta the schools I applied to... I choose the one that gave me the most money and was cheapest to go to.

I got a scholarship for 11,250 a year... and the school is about 35,000 after books, meal plan, rooming, etc. So I'm paying for say 1/3 my tuition with that (gotta keep up a like 3.1 or something). So that was huge for me... especially because the college was cheaper in the first place too AND gave me the msot money. Even if I'm overqualified maybe, I don't care because the financially it's a LOT better.

I didn't get much help with the student loans either, which sucked. But I'm really happy I got the scholarship and all, because It's 45,000 I don't have to pay.

Just gotta keep my GPA up these next 4 years and I'll be good. I'm hoping to keep it up to 3.5-4.0 tho. Just gotta really apply myself...

But college sucks moneywise... it's so stupid.

[ashley0139]

Posted: 8/12/05 at 7:44pm

As I'm reading this thread, I'm actually almost crying because I'm so freaked about this. I want to go to NYU so so much. More than anything. I've wanted to go there for as long as I can remember, and my parents know that. I just can't get over the guilt I will feel for putting them through that (if I get in). I don't know what to do. I literally can't see myself anywhere else. And if I do go to another school, it's still going to be expensive because all of the schools I am looking into are in the NE. We are considered I guess, upper-middle class. So that means I will get very little financial aid. I don't know what to do. I'm trying to get scholarships, but I don't really know where to look and everything. I literally lose sleep over this. Glad I could share my feelings somewhere.

[mabel]

Posted: 8/12/05 at 8:25pm

In the end Ashley, if it's close price-wise, go where you want. I've begun to resent my school (especially the last year or so) because I didn't really want to come here originally, and everything that they do that's stupid and/or annoying (and it happens a lot, re: taking my grant away, being placed w/ a roommate who's a stripper...see the roommate thread!) just pisses me off 10x as much as it would ordinarily. You only get to go to college once, and you have to live w/ your decision for 4 years (well, you could always transfer, but w/ all the funky requirements of getting classes to count, etc sometimes that seems like more trouble than it would be worth). It's an important decision that you should think long and hard about. Apply to NYU. For me, I didn't want to have to turn them down, and I didn't want to deal w/ being rejected (I got in everywhere that I had applied) so I nixed it.

Have you looked into Fordham? Had I not had financial aid application issues (which they eventually resolved, but in the end, it was too late) I would have loved going there. I think there are a couple of Fordhamer's on here. They were pretty generous on merit-based aid, and since you'd said you were looking into Yale, chances are you could get a decent Pres. Scholarship. Just remember to keep your options as open and varied as possible. I had friends that had their minds set on one place and when it didn't work out, they were screwed. One girl I went to high school w/ graduated 4th in our class, and wanted to go to Emerson and Emerson only. She applied Early Action (or Decision?...Whichever one commits you to that school) and they didn't give her aid. She couldn't go to school at all that year after graduating HS because of that!

Good luck!

[briarbrad]

Posted: 8/12/05 at 8:37pm

"well, if you're really interested in Yale, you should know that it GUARANTEES to meet 100% of your demonstrated financial need, so there's a good thing for ya there."

The problem with that is demonstrated financial need, according to the universities and the FAFSA, is very different than what you or your parents might think you need. The schools might say your need is, say, $2000 a year, and if they meet all need, they'll give you that. And it might be true that your parents COULD afford to pay the other $38,000, but they would probably rather not...you know, so they can continue eating and such! So beware the "guaranteed payment of financial need." It doesn't mean you'll get all that YOU really need.

[Marlene]

Posted: 8/12/05 at 8:53pm

In regards to Yale...according to some article I read "More than 40% of Yale undergraduates qualify for need–based scholarship grants from Yale. The average grant for 2004–05 from Yale funds is over $22,000 and the top grant is more than $39,000. The new financial aid enhancements announced today will be effective for the 2005–06 academic year and will apply to all returning Yale College students, as well as to the entering class of freshmen."

If you're lower income it rocks to be you...I believe your family then doesn't have an obligation and doesn't need to be factored in.

The full article if you're interested: http://www.yale.edu/opa/campus/news/2005/20050303_aid.html Updated On: 8/12/05 at 08:53 PM

[Sporti2005]

Posted: 8/12/05 at 11:09pm

briarbad -

though it's true that your "need" might not be what you REALLY need, it's nice to know that they guarantee to cover at LEAST that...when most schools may not even cover the small amount that is your determined need.

it's just a nice thing to know :)

the endowment at yale is incredibly high anyway, and if i remember correctly...all their scholarships are need-based because a merit-based one at such an academically prestigious school would be ridiculous.

[orangeskittles]

Posted: 8/13/05 at 5:19am

When it comes to financial need, if you're middle class, you can get screwed. When I filled out the FAFSA, they said that my parent's estimated contribution would be equal to over 1/3 of their annual salary- before taxes. I have 2 younger siblings, I don't know where the federal government thought my parents will get the money to care for their basic needs.

However, I got into my first choice school and got financial aid covering almost half of my tuition, so don't let the original statements from FAFSA scare you, it depends on your school. Currently, my estimated $41,000 tuition (but the estimations are always low-end figures) is being paid for by a conglomeration of grants, scholarships, and federal and personal loans.

Just wondering, are any high school students here considering schools that aren't huge names? To limit yourselves to the well-known private universities that have been mentioned here, you're basically guaranteeing that it's going to be expensive (NYU and Yale are in the Top 5 most expensive schools).

[Taryn]

Posted: 8/13/05 at 1:08pm

The Princeton Review website (http://www.princetonreview.com) has great info about schools' financial aid habits, including a rating from 66 to 99 how well they cover demonstrated need, the average amount given to undergrads, the percentage of undergrads getting aid, stuff like that. I was lucky enough to get a great package from the University of Rochester (a school with a very high 97 financial aid rating). For me, UR's offer was enough to motivate me to visit the campus, where I subsequently fell in love with the school.

If you can, try to get interviews with as many of the schools you apply to as you can. This is often a big boost for merit-based scholarships, and many schools do interviews all across the country to help those students who don't live nearby. I missed out on the chance for a merit-based scholarship from UR because I didn't get an interview--because, until I visited the campus, it was my #3 choice! So keep your options open. Because you never know what might pop up.

[ElphabaRose]

Posted: 8/14/05 at 11:05pm

do any and every scholarship essay that you can. my friend's mom is the ap gov teacher and she encouraged us all to do the essays. we never did. my friend (my teacher's daughter) did maybe half of them and got about $10,000 in prize money...thats a lot for just spending a few hours writing essays.

[Sporti2005]

Posted: 8/15/05 at 5:28pm

i definitely agree with elphabarose. taking the extra time to write the essays will make a HUGE difference when you get a check in the mail for a few thousand dollars.

even if the scholarship being awarded is only a hundred or two, they really add up quickly, trust me!!

also, if you're in a writing class at school where you get to choose topics you write on to a certain extent - think about choosing topics that you may later be able to use as scholarship essays. i did this and it saved me a lot of time later, and i told my writing teacher what they were for - so she took extra time to make sure they were as good as they could be

[mad4music]

Posted: 8/15/05 at 7:13pm

Good point... I guess its not THAT hard to sit down and write essays.... especially if you're getting paid! ...and luckily I am a pretty good writer (I've won a few things in the past)... and it can even be fun!

but I have a Q: does anyone know a good place to hear about essays, scholarships, etc? I am already signed up on FastWeb and that has helped... but it takes them forever to get new stuff posted on my little scholarship thing and I haven't found a lot that fit me that great yet... is there any other site similar or like a newsletter I could sign up for to hear about good essay contests and stuff?

I also tried findtuition.com but you have to pay for the good stuff (which I refuse to do) and the free stuff is pretty much crap... it just gives me info about scholarships directly related to schools in my area except I don't want to go to school in my area so they are all quite pointless!

anyone know of another good site to help locate financial aid?

thanx 4 ur help!

[Plum]

Posted: 8/15/05 at 11:09pm

I only skimmed this thread, but here's my experience- the Yales and NYUs of the world just aren't going to be overly generous with financial aid for middle-class students. They may have huge endowments, but they'd rather build a shiny new student center or just let the endowment increase than really be generous with aid. That said, those schools are still amazing places to go, and tons of middle class families make these situations work all the time. It'll involve a lot of loans, but there's worse things. And you'll be getting a great education.

If you're really worried about money, there are good state schools and lesser-known schools out there that use generous financial aid as a recruitment tool. The government is a good source, too- ROTC, National Guard, and public service scholarships are available depending on what you study.

[Sporti2005]

Posted: 8/16/05 at 12:33am

mad4music - check with your school guidance dept. to see if there is a state resource for students. i know in vermont we have VSAC (vermont student assistance corporation), and they publish a listing of scholarships every year. that was really helpful to me because they had music-, theatre-, and academic-specific scholarships. there were some that were even only for students interested in the field of dental hygiene. they had EVERYTHING.

definitely check that out. and if all else fails, move to vermont and go to dental hygiene school...haha!!

[DoubleDown11]

Posted: 8/18/05 at 1:55pm

I work for a private institution that lends tuition, room and board money to students. There are certainly ways to get it out there if you tell yourself that it may take a bit to pay it back. The problem is that the schools are charging more and more every year and the federal governement financial aid packages are not increasing at the same percentage. Good luck.

[bwayrunner22]

Posted: 8/18/05 at 2:43pm

mad4music- I am in the same boat as you. I am from an upper-middle class family but I am reluctant to even look into colleges where the tuition alone is more than 20,000. I am also a member of FastWeb.com and am using them for college info, I signed up for the scholarships but none of them really apply to me. I live in Illinois and would like to look into Northwestern because of their theatre dept. but the tuition is about 30,000 and I can't put my parents through that. I'm a junior in High School, by the way.

[CostumeMistress]

Posted: 8/23/05 at 5:47pm

I'm working 40 hours per week and going to school half-time instead of full-time. That's what it takes to make ends meet. Even thought my parents aren't paying anything, they still make a good salary and so I qualify for ZERO in terms of grants/loans beyond Stafford. So I'm a full-time barista and a part-time student. There's no rule saying that you have to graduate in four years.